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URL: http://reszatonline.wordpress.com/

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Latest posts
The social value of HFT – Salmon, Stiglitz and the problems of HFT reconsidered (2) NEW
reszatonline 4 Weeks, 1 Day, 54 Minutes ago
In a recent article, Felix Salmon summarized the key points of a widely noticed speech delivered by Nobel prize-winner Joseph Stiglitz on the problems of financial innovation in general, and high-frequency trading (HFT) in particular. Stiglitz asked...
Salmon, Stiglitz and the problems of HFT reconsidered (1) – Speed NEW
reszatonline 2 Months, 1 Day, 13 Hours, 31 Minutes ago
Building bridges between scientists and the public in communicating research findings is one of the most rewarding activities of bloggers and journalists. Felix Salmon is an outstanding example in this respect. In a recent article, he summarized the...
Michael Lewis’ Flash Boys – further comments and links NEW
reszatonline 3 Months, 3 Weeks, 14 Hours, 36 Minutes ago
The publication of Michael Lewis’ book “Flash Boys” renewed the general interest in high frequency trading and fuelled the debate about its potential use or harm. After finishing my first compilation of comments and reviews of the b...
A perfect storm – first reactions to Michael Lewis’ Flash Boys NEW
reszatonline 3 Months, 3 Weeks, 2 Days, 17 Hours, 51 Minutes ago
Since many years, there is a controversy about high-frequency trading which just reached the wider public with the publication of Michael Lewis’ latest book Flash Boys. His conclusion that US stock markets are rigged by high-frequency traders r...
Paul Einzig and the foreign exchanges NEW
reszatonline 3 Months, 3 Weeks, 5 Days, 3 Hours, 55 Minutes ago
The other day, I came upon an interesting article on Vox about The Returns to Currency Speculation: Evidence from Keynes the Trader where Olivier Accominotti and David Chambers described the results of their research on currency speculation in London...
Inflation indexing and Bitcoin rhetoric NEW
reszatonline 4 Months, 3 Weeks, 2 Days, 16 Hours, 53 Minutes ago
The other day, the New York Times provided us with an example of how fads and fashions can be used to draw attention to, and win acceptance for, an economic argument. In his article In Search of a Stable Electronic Currency Nobel laureate Robert Shil...
Regulators’ games NEW
reszatonline 4 Months, 3 Weeks, 6 Days, 9 Hours, 28 Minutes ago
Are US regulators corraling their financial system with the latest financial-safety rules for foreign banks as Patrick Welter (Frankfurter Allgemeine Zeitung) and others argued or will their move eventually even pave the way for closer cooperation an...
Sneak previews: Deutsche and RBS NEW
reszatonline 5 Months, 1 Week, 4 Days, 1 Hour, 15 Minutes ago
Let us hope that this will not become a habit. As David Enrich (The Wall Street Journal) wrote the other day on Twitter RBS becomes second big EU bank to pre-announce lousy 4Q results, following Deutsche Bank eight days ago. pic.twitter.com/X6jCWcrCq...
Protected: Demnächst auf CARTA: Eine kleine Übung in Preishysterie NEW
reszatonline 6 Months, 1 Week, 5 Days, 20 Hours, 49 Minutes ago
There is no excerpt because this is a protected post.
Rising prices in a deflationary environment NEW
reszatonline 6 Months, 3 Weeks, 1 Day, 14 Hours, 23 Minutes ago
SUMMARY Regarding the ongoing extremely loose monetary policy in the United States, Japan and Europe, some observers worry about inherent inflationary dangers. Those worries are ridiculed by others who point to the lasting tendency of declining price...
The US debt drama – soap opera or Lehman quality? NEW
reszatonline 8 Months, 4 Weeks, 8 Hours, 50 Minutes ago
Shortly after the US default had been averted on October 16, the S&P 500 closed at an all-time peak of 1,744.50. Alan Wheatley (Reuters) commented enthusiastically: “If Wall Street’s record high is a signpost, the U.S. economy has eve...
Protected: Demnächst auf CARTA: US-Haushaltsstreit – der Worst Case ist längst Wirklichkeit NEW
reszatonline 9 Months, 1 Week, 4 Days, 13 Hours, 2 Minutes ago
There is no excerpt because this is a protected post.
Forex turnover results 2013 – or why you should worry NEW
reszatonline 10 Months, 2 Weeks, 5 Days, 53 Minutes ago
The BIS Triennial Central Bank Survey of foreign exchange turnover in April 2013 makes a fascinating read. First of all, there is the rise in turnover volume: $5.3 trillion. Per day. By comparison: World exports in 2011 (the latest available number)...
Protected: Demnächst neu auf CARTA: Bitcoin fasst in Europa Fuß NEW
reszatonline 11 Months, 4 Days, 6 Hours, 46 Minutes ago
There is no excerpt because this is a protected post.
Bitcoin – one foot in the door to Europe NEW
reszatonline 11 Months, 1 Week, 1 Day, 12 Hours, 52 Minutes ago
The German Ministry of Finance hit the headlines with an official statement recognizing Bitcoin as unit of account thereby giving it the legitimacy to be used as a settlement currency in one of the world’s largest economies. After the official...
Safe haven Germany? – Limits to deposit guarantees NEW
reszatonline 11 Months, 1 Week, 3 Days, 7 Hours, 40 Minutes ago
One concomitant of the euro crisis is capital flight from European periphery countries such as Greece, Ireland and Portugal to Germany which erroneously is widely considered as the last safe haven in the euro area.  As a rule, German citizens, t...
Neither muppets nor cows NEW
reszatonline 11 Months, 2 Weeks, 15 Hours, 6 Minutes ago
After some people read my latest article on CARTA in German language about savers, interest rates and inflation , there were some lively discussions, and maybe a little confusion, on Twitter, and in what follows I would like to briefly clarify my vie...
Protected: Demnächst neu auf CARTA: Haben Sparer Anrecht auf Inflationsausgleich?* NEW
reszatonline 11 Months, 2 Weeks, 3 Days, 6 Hours, 9 Minutes ago
There is no excerpt because this is a protected post.
German bad banks – links NEW
reszatonline 1 Year, 2 Weeks, 1 Day, 3 Hours ago
First reactions to my last blog post on German bad banks gave me the idea that the following little link list with background information might be a useful addition. In December 2011, the IMF published a detailed Technical Note on Crisis Management A...
Black box German bank NEW
reszatonline 1 Year, 2 Weeks, 4 Days, 1 Hour, 58 Minutes ago
Slowly, public awareness is growing in Germany that bank riskiness is not only a problem in Southern Europe. On July 1, for example, Süddeutsche.de had a long article about the lack of transparency of financial institutions focuss...